Hungary August trade surplus revised up to 458 million Euros

Hungary’s August trade surplus was revised upwards to 458 million euros in a second reading of data, the Central Statistical Office (KSH) said on Thursday.

In the first reading, published on October 9, KSH had put the August surplus at 440 million euros.

Imports rose by 12.6 percent annually to 7.479 billion euros. Exports climbed by 10.2 percent to 7.937 billion euros.

The trade surplus was down by 101 million euros from the same month a year earlier.

Trade with other European Union member states accounted for 79 percent of Hungary’s exports and 76 percent of the country’s imports.

Hungary had a trade surplus of 605 million euros with EU countries and a trade deficit of 147 million euros with the rest of the world.

Hungary’s terms of trade deteriorated by 0.7 percent in August as import prices rose 2.1 percent and export prices rose 1.4 percent in forint terms. The forint strengthened 1.3 percent to the euro and 0.1 percent to the dollar in the period.

For January-August, Hungary’s trade surplus reached 5.592 billion euros, down from 6.676 billion euros in the same period a year earlier. Imports were up 12.5 percent at 60.920 billion euros and exports rose by 9.3 percent to 66.512 billion euros.

Source: MTI